About Us
About Us
Serve the Greater Toronto and the Surrounding Area!
Welcome to our home page. Cosmic Appraisal Inc. is a leading provider of real estate valuations for the marketplace. Our professional experience appraisers with many years of experience in the business, they have a proven track records of reducing lenders time, efforts and costs in managing the appraisal process will put their years of training and knowledge to work for you.
We service Greater Toronto and the Surrounding Areas. Our firm specializes in residential valuations for:
- Primary and Secondary Mortgages
- Mortgage Refinancing
- Employee Relocation
- Insurance Purposes
- Estate Valuations
- Taxation / Capital Gains
- Matrimonial Settlement
- Litigation
- Listing or Purchasing purposes
Keeping up-to-date with current market trends and legal changes that may affect real estate values, our appraisers offer an informed valuation so that you can be assured of the worth of your investment. Our clients continue to rely on our expertise for all of their real estate valuations!
The Appraisal
What is an appraisal?
When you hire a designated appraiser, you are hiring a dedicated professional that will work for you. The appraiser will provide an objective estimate or opinion of value of the described property, as supported by the presentation of relevant data analysis.
Steps in the Appraisal Process
- Definition of the Problem
- Preliminary Survey and Appraisal Plan
- Data Collection and Analysis
- The Direct Comparison Approach
- Cost Approach
- Income Approach
- Reconciliation of Value Indications and Final Estimate
- Write the Appraisal Report
All reports will demonstrate either one or more of the three data processing methods used to arrive at an indication of value.
- The Direct Comparison Approach is based on the theory that an informed purchaser would pay no more for the property than the cost of acquiring another existing equivalent property. The value estimate is based on the selling price of comparable properties.
- The Cost Approach estimates the cost of building new property identical to the subject being appraised, at current prices, subtracting accumulated depreciation and adding the estimated land value.
- The Income Approach is used for income-producing property and is based on the theory that value is the present worth of the income stream the property is capable of producing when developed to its fullest use. The net operating income from the property is capitalized into value by an appropriate method and rate.
